Short Interest in Ares Capital Corp. Increases By 30.5% (ARCC)
Shares of Ares Capital Corp. (NASDAQ:ARCC) were the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 10,303,171 shares, a growth of 30.5% from the June 13th total of 7,893,479 shares, AR Network reports. Based on an average daily volume of 5,142,678 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.5% of the company’s stock are short sold.
Separately, analysts at Goldman Sachs initiated coverage on shares of Ares Capital Corp. in a research note on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Ares Capital Corp. presently has a consensus rating of “Hold” and a consensus target price of $18.54.
Shares of Ares Capital Corp. (NASDAQ:ARCC) opened at 17.40 on Wednesday. Ares Capital Corp. has a 1-year low of $16.47 and a 1-year high of $18.63. The stock has a 50-day moving average of $17.31 and a 200-day moving average of $17.50.
Ares Capital Corp. (NASDAQ:ARCC) last released its earnings data on Tuesday, May 6th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.01. The company had revenue of $239.70 million for the quarter, compared to the consensus estimate of $230.70 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Analysts expect that Ares Capital Corp. will post $1.57 EPS for the current fiscal year.
Ares Capital Corporation (NASDAQ:ARCC) is a specialty finance company, which is a closed-end, non-diversified management investment company.
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